BAKU, Azerbaijan, Feb. 15
By Zeyni Jafarov - Trend:
The World Bank (WB) is considering the issue of financing a new project in Azerbaijan, Zaur Rzayev, Public Relations Adviser of the WB Office in Azerbaijan, told Trend.
According to Rzayev, the WB plans to provide a loan to Azerbaijan within the framework of the Regional Connectivity and Development Project.
The estimated financing from the World Bank is estimated at $65 million, with a significant part of the credit resources planned to be used for the reconstruction of the Salyan-Bilasuvar highway, he said.
The WB representative noted that closer to March 2021, the concept of the project will be approved, after which it will become known about the terms of financing.
Azerbaijan has been cooperating with the World Bank since 1992. To date, the World Bank has allocated loans totaling $3.5 billion to Azerbaijan for the implementation of over 50 projects. Thus, in 2019, Azerbaijan entered the list of the 20 most reforming countries according to the WB.
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